CenterBook Partners LP Buys 31,615 Shares of Copart, Inc. $CPRT

CenterBook Partners LP boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 146.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,144 shares of the business services provider’s stock after buying an additional 31,615 shares during the quarter. CenterBook Partners LP’s holdings in Copart were worth $2,081,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Copart in the 4th quarter worth about $569,569,000. Capital World Investors lifted its holdings in Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares during the last quarter. Capital International Investors acquired a new position in Copart in the fourth quarter valued at about $195,637,000. Bank of New York Mellon Corp grew its stake in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Copart by 298.2% during the third quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock worth $217,243,000 after buying an additional 3,660,031 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $44.50.

Copart Stock Performance

Shares of CPRT opened at $31.31 on Wednesday. The business’s fifty day moving average price is $32.97 and its two-hundred day moving average price is $36.38. The firm has a market capitalization of $28.99 billion, a price-to-earnings ratio of 19.45 and a beta of 1.00. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.91.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.42 earnings per share. As a group, research analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.